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& noble, dagen and connell. they will close a third of their stores. it is a tough economy. people are moving to digital. this may bode well for amazon.com. barnes & noble down nearly 2% today. barnes & noble say they will close one third of their stores over the next decade. let's take a look at the broader market. the dow down about ten points. much like the nasdaq composite and the s&p 500. they are all hovering near the unchanged line. the retail, drugged and bank index all have done okay with down arrows. connell: a team of a bipartisan senators have come together with their own plan on immigration reform. dagen: peter barnes is on capitol hill with the very latest. peter: this group of eight editors can't bipartisan group, for democrats, for republicans, trying to get out before the president speech tomorrow in nevada. now, the senator's proposal includes increase and verifiable border security and tracking of legal immigrants making sure that they believe when they are supposed to, mandatory employment verification, green cards for top floor and college students who are gett
to put his time. >> brown: well, you know, he spoke about the economy, getting the economy right first and foremost. he said "more than ever foreign policy is economic policy." did that sound right to you? >> i think that's right and i think this is a man who's grown up, really, in the political military side of foreign policy and national security and i think one of the challenges will be for him to recognize that the economic instrument in trade is really very important. if you look at asia, the coin of the realm in asia is trade and economics and, you know, if we're going to have a rebalancing toward asia, it needs to be an economics and trade overwhelmingly. so he's got, i think, a real opportunity to help lead the administration in using all of our instruments for national power influence, particularly economic and trade. >> brown: what do you think -- i mean, i know what you think about -- we talked about this in your last book about the need for economic thinking, i guess, changing the way we think about the world. but do you think that the administration has understood that wel
catch up. you'll shut down the economy and you won't get the budget down. >> when you were campaigning in virginia, a state you wanted to carry but didn't, you said, look, these sequestration cuts, these automatic spending cuts that are put in place because republicans and democrats can't agree, so you have to have this sword that comes down, you said we're not going to let those happen. those will not happen, those automatic spending cuts. well, now we have a new deadline coming up in a couple of months that says there's going to be more automatic spending cuts, the same ones that were in place before. >> that's right. >> are you going to let those happen? >> if mitt romney and i won the election, they would not have happened because we would have gone and worked with democrats and republicans in congress to put the budget on a path to balance and saved defense. i think the sequester is going to happen because that $1.2 trillion in spending cuts, we can't lose those spending cuts. and don't for get one other thing. i wrote legislation and passed it in the house twice to replace those
actually a friend of the system and the economy. take a listen to this one. >> i think jpmorgan was a -- was not just a fair weather friend. we were there in good times and bad times for everybody, including nations. for spain and italy we will tell you -- we were lending $15 billion net of collateral. net derivatives, spain and italy. yes, it's governments and multi- nationals if you want to be transparent. what would you do? what would you all do? if you were my board of directors, it's easy to say don't take the risk. move out. we've been in spain and italy, one for 60 years, wur finish over 100 -- one for over 100. we're not a fair weather friend. companies want us there. we have to manage that risk. something may go wrong. >> got to tell you guys, the feedback after that panel was actually not good. a lot of people criticizing jamie just in the hallways. obviously a lot of people happy to see him defending the bank. a lot of bankers here. the mood, nature of where we are. there was some criticism. the other big news, by the way, not happening in davos -- yeah? >> i was goin
have been overly optimistic on the economy. and, we've seen autos really rebounding over the last year. we're really starting to see improvement in the housing market. so, i think those are some very fundamental pieces of the economy that could really lead to some stronger growth in the future. >> reporter: as for retail investors rediscovering stocks this january, not everyone thinks the reunion is for real. some experts say the market will have to rally a lot longer before that happens. suzanne pratt, "n.b.r.," new york. >> susie: from a smartphone in your hand to a smartphone in your glasses, still ahead, the latest fashion trend: wearable technology. exxon-mobil is back on top. it's reclaimed the coveted title as the world's most valuable company. apple now slips to number two. exxon is woh an estimated $417 billion a apple is $4 billion less. since apple hit $700 a share in september. it has lost roughly $250 billion in value. the change comes exactly one year after the tech titan knocked the oil giant out of the top spot. shares of microsoft ended flat today, after posting quarte
. >> brenda: so far it's taking the labor board out of commission for a while. does that help the economy? >> oh, i believe it does, because it gets to, i think, a bigger issue, brenda, finally, maybe, a little tamp down on government overreach, you know, in obama's inauguration speech, it was all about growing government even bigger than it already is. and the problem is, when government grows, the private sector suffers. and if you say, well, who cares where the money goes, the problem is government growth is always less inefficient than private sector growth and this is one step toward hopefully allowing the private sector to grow, tamping down on unions which i think have hurt many, many, many industries, despite the higher wages. in the union you have higher wages until you lose your job, and i think this is a step forward, this is progress, what needs to be done. >> brenda: you know, jonas, toby brought up a good point. which is that union membership has been declining for decades, record lows right now. so, what difference does all of this make? the unions don't have as much power.
. rather than focusing on america's vexing problems like an exploding debt and a weak economy, mr. obama put forth that the nation's top priority must be imposing social justice. >> we must make the hard choices to reduce the cost of healthcare and the size of our deficit. but we reject the belief that america must choose between caring for the generation who built this country and investing in the generation that will build its future. [ applause ] for we remember the lessons of our past when twilight years were spent in poverty. parents of a child with a disability had nowhere to turn. we do not believe that in this country freedom is reserved for the lucky. talking points disagrees with president obama's priority. although. impossible to do what the president wants to do. in short, prosperity. can't be done no matter how much money you spend. much more effective is building a strong society based upon a robust free market and effective, effective social programs. that provide opportunity rather than charity. as the president should know by now. the federal government cannot provide fo
part it's a broad-based rally, which is the best kind. as i've said, a lot of this reflects an economy that looks better than you might think. and then on the political front, president obama's recess appointment to the nlrb declared unconstitutional. and louisiana governor bobby jindal calls republicans the stupid party. how about that? and then there is an unconfirmed scandal. i say unconfirmed. did senator bob menendez sleep with underaged dominican prostitutes? this is "the kudlow report" and we begin right now. >> all right. first up, our most optimistic story tonight, stock continue their bull run, the s&p 500 and dow closing in on their all-time highs from october 2007. brian shactman joins us now with all the details. good evening, brian and good work today. >> you touched on the s&p details having its best streak in terms of winning streaks days in a row in eight years but how about the dow. we're now 105 points shy of 14,000. eight components hit new highs today. beyond the five on your screen, utx, pfizer and p & g also doing it. now, speaking of history, historically life i
on the dow today was the drop in jobless claims. while that is good news, markets and the economy have another big headache. it's called washington. with me now, harvard economist jeffrey myron. good to see you. as always, let's start with these weekly jobless claims. it's getting some attention, some bus. they were down 5,000 to 330,000. that is the lowest level in, i believe, two years. pretty impressive. is this a trend? >> at think it probably is. i think we will see gradual and continual improvement in the jobless numbers. it will gradually see some improvement in the unemployment rate. and don't think it's going to be really fast. of the car going to see overall growth in gdp really speed up. everything seems to suggest we will muddle along. we have had for the last three years of so. better than recession, but not nearly as fast as we have normally expected. gerri: well, as part of it due to washington because they cannot seem to solve any of the problems in front of them, whether it is sequestration on the debt ceiling? >> i certainly think that washington policies play a big r
year until 2013 to make the world economy more green. that's $14 trillion. joining me now, the heritage foundation who focuses on energy, environmental regulatory issues. i have to tell you, you have to hear what they say. the former mexican president talking about the goal here. economic growth and sustainability are interdependent. you cannot have one without the other. what do you say? >> well, if that is the case what we need to subsidize it with taxpayer dollars? if this is such a profitable idea, if the green energy market is a multitrillion-dollar economy, then let the ceos and venture-capital this figure that out. while this been a your money in my money? it makes economic sense. this culture of promoting these ideas with government capitol only creates government welfare or corporate welfare and creates corporate dependence. gerri: companies that fail as we talked about some many times in the show. whether you're talking about solyndra or a number of others that our government financed. you would think that maybe these are just wacked-out the trees coming of the wild ideas. and
for a possible coalition party. they are making the economy their main issue. shimon peres will decide whether to give binyamin netanyahu the first chance of forming a coalition. that is a process that took five weeks after the last election. let's talk about the situation after the election. it sounds like putting together a coalition will be tricky. >> it appears so. the last government all molested two years. then the labor party pulled out . in this case it might be even more complicated. binyamin netanyahu, if he is given the first nod, will have 28 days to form a coalition. then he has another 12 days. the question is whether some other party will be asked to put together a coalition. any kind of coalition would veer to the right. if he could do that with a minimum of cooperation would be his preference. >> thank you for reporting to us live from jerusalem. you can see our front page at zeera.com. the first explosion was caused by a car bomb about 30 kilometers south of baghdad. no one has claimed responsibility. activists are reporting two large explosions on the outskirts of damascus.
to productivity. the only way economy grows is adding more people. unions run counter to that and why more people are against them. >> steve when they spend millions on issues they are losing, that is union dues money and doesn't fall out of the sky. >> yes, they are heavily in politics and union members don't have to pay for politicing and focusing on the bargains they don't pay the dues. it is overreach. >> are they toothless tigers. >> no, you have to keep an eye on this. the great state of california numbers are on the swing. they are coming from the latino community. one group of people that republicans are trying to become friends with. >> look at overall figures. union members down below 7 percent, emake. >> that's right. we haven't seen this in decades, david. the gig is uon the other side of the aisle. taxpayers realize that government unions lobby for more spend more tax hikes and meaning property taxes go up. why? to pay for the benefits . taxpayers are saying wait a second, we get it . the union members understand the back lash, too. >> bill, your back shot was hard to digest, but the
a hint. sometimes it goes up before the economy is improving. we don't need monetary policy to drive stocks. >> that's why it's going up? >> the market? >> the yield. >> well, i think because the economy overall is improving and we're going to see some flows back in equities. that's why i think yields are actually starting to slowly go up. because it's starting to rejoin with gdp. >> benedict? >> i couldn't agree more. great numbers out of china. i think china is far more important than the european situation. and as yields go up, the exposure in your bond portfolio, the interest rates will have a drop on your yield. you got to be in equities. >> ben willis, b. belski. thank you. now, maria. >>> and it is 4:00 on wall street. do you know where your money is? welcome back to "the closing bell." i'm maria bartiromo on the floor of the new york stock exchange. the dow six-day winning streak in jeopardy tonight with a decline on the session. yahoo numbers are out. dow jones industrial down 12 points at 13,883. nasdaq finished positive just by a fraction. up about 4.5 points. and s&p 500
of an economy that has been stagnant for about four years. in the meantime the federal government keeps plunging into debt. so if someone brings forward an alternative to at least give us the opportunity to provide effective oversight and to make sure that this money does go to emergency needs and doesn't just fulfill a wish list for what some cities would like to do in the future to prevent against future storms -- not that we shouldn't be debating that, but that doesn't qualify as an emergency need getting money to the people that need it now. these are future decisions. we haven't had time to assess those. we haven't had time to examine those in detail. we haven't used the process that is in place here in the united states senate to go through committees and let the committees work through, is this essential to meeting the emergency needs? or can we set this aside and spend a little more time examining it, looking at it to make sure that this is how we want to go forward? we have a habit here of throwing money at things under an emergency category and then later finding out that, one, it wasn
believes that we have to both walk and chew gum at the same time. we have to deal with our own economy and our fiscal situation. that is a given, because that is the source of our strength and our capacity. but we also have to be smart about making the right investments in diplomacy and development to try to solve problems and prevent them. >> i'm joined tonight with senator chris murphy of connecticut, who is a member of the senate foreign relations committee. senator, good to have you with us tonight. moving forward, security obviously is an issue. so getting funding and help from republicans shouldn't be hard after this hearing. that's what i see today. your thoughts on it. >> well, listen, the republicans have had chance after chance to do the right thing here. the irony is just as thick as the walls of the united states congress, when you think that they stripped $300 million out of the secretary's security requests before benghazi. but it gets even worse, ed. after benghazi, the president and the secretary of state said listen, we've got to do better. so they put before congress
invest in a public private partnership in geo engineering and transit it in a new energy economy. look at hurricane sandy. 50 billion and more in damagings. we'll keep having storms like that and impact insurance company and wall street, we have to get with the new economy. should it be public or private money? if there is a profit, the company companies will do it? we don't have to put our tax dollars do we? >> if green energy works we wouldn't need a suck sidies. 90 billion under president obama. that is flushed down the drain and you are again picking winners and losers. it just so happens, that the best energy carbob nuclear hydrocarbon and the green lobby oppose and vote against it is it a anti-man position. we use fossil fuels to better our lives and give us food and transportation and makes the modern world possible. to be against that is against the man's well being on earth. >> is there any proof that green initiatives have worked? >> apparently not. if you look down the list. everybody picks out solyndra. there is about 20 others that went up side down and in the toilet and a
about what's happening with the domestic economy. >> yeah. rates probably close to 50% in europe. europe obviously is a collection of smaller companies. if you're historically in those countries you've had to reach out much sooner than american companies have. they're global leaders in their industry around the world. they just happen to be based here in europe and one of our key messages of the last four years has been buy european countries and make sure they have as little exposure as possible. that's generally the message. there's more competition in the market now even from peripheral countries benefiting in the risk rally. >> i wonder about philips, too, reporting tomorrow. are they seen similar to alcoa as the barometer? >> i think, you know, any big company which comes out and meaningfully beats or disappoints the market, european equities are up .25% from the lows in the summer. it could be any number of big stocks which sets the near term direction of the market. overall, it's very unlikely. the corporate sector has within its power to greatly disappoint or please the markets a
in 2012. i don't think you are going to get quite the'e got to get the money working in the economy. think about it: no one really thinks we can get back to all-time highs, even though we had a good year in most mutual funds, indexes and general stocks last year. so there is a lot of skepticism that we can get going. but you heard my targets right here. > i love that i heard them here. so it is all about the indices. but are there individual stocks that you would buy at this level? > > the past few years a lot of people have been focused on sort of special situations, especially mining stocks, commodities, and natural resources. but i think it is sort of the all-americans, your procter & gambles, your american expresses, so don't forget your financials and your health care stocks. get that waiting back up to where it should be. > all right matt. we have your call on tape. we will play it back at the end of 2013 and see how you did. > > i will see you in 365 days. with no presidential election, no stimulus programs on the horizon and healthcare reform upheld, 2013 should be smooth sailing f
can be we are going to talk about silicon valley and the bay area innovation to the economy today. as you look at the panel, talking about the silicon valley, we have the mayor of san francisco. it will come into perspective, that when you have a giant like ibm anchor here in the valley, you are seeing in between companies like google and apple and facebook with incredible growth. in san francisco, mayor lee has welcomed to the fold in twitter, zynga, companies that are into cloud computing, hiring lots of people that not only want to live and work in the valley but recognize san francisco as being part of the valley. we are, indeed, fortunate, from san jose to san francisco, to be part of the innovation economy. we are finally seeing once again california's innovation is leading us out of the last three years of recession. i do not know about you but i am pretty tired of the recession. i made a statement several years ago that it was about time for an adjustment to the economy, things were too expensive, overheated. two years after that, i regretted making that comment. it was gr
at a steady pace since he returned to office last month, retooling the economy, revising foreign policy and reviewing national defense. now he's taken time to pause and sum up his vision for the country. abe spoke before the diet for the first time since his liberal democratic party took power. the prime minister said the economy is his top priority. he noted deflation and the strong yen are shaking japanese people's belief that working hard will bring rewards. >> translator: i will restore a strong economy and unshakable determination. i will press ahead with my three areas of economic policy, bold monetary measures, a fiscal policy and a growth strategy that induces private investment. >> abe urged lawmakers to swiftly pass extra budget bills for the current fiscal year to pay for stimulus measures. he said his spending measures won't go on forever and that he aims to achieve healthy public finances. the prime minister then turned his attention to diplomacy and national security. he said japanese and u.s. leaders should strengthen their alliance to restore the tight bond their countri
the skyrocketing price of foreign oil threatened to devastate the american economy, alaskan oil seemed to promise hope for american energy independence. then along came 1979. revolutionary shock waves spread through islamic nations. iran cut off petroleum exports to the united states. america felt it was held hostage by dependence on foreign oil. as the price of a gallon of gas passed a dollar, congress debated closing off 100 million alaskan acres to mineral exploitation. the bill would double our national park system. alaska congressman don young was outraged. how selfish and ridiculous can we be when we think we can live within ourselves? we have billions of people in asia alone, south america is suffering from starvation, and we're going to set aside 175 million acres of land for a playground that has all the minerals and oil and resources-- timber and hydropower? that's asinine! other congressmen saw the issue in more personal terms. arizona congressman mo udall. the most important thing to me is that it's there. you get a real lift from getting out of the artificial world and being with nat
've not destroyed the world's economy for over four years. the attacks keep coming. hsbc targeted bay justice department witch hunt over a few minor infractions. >> hsbc admitted today that it covered up illegal transactions for burma, iran, sudan, cuba and libya. those nations were under banking sanctions because of human rights atrocities, terrorism or in iran's case, a nuclear program. >> stephen: big deal. [ laughter ] it's not like hsbc was the one enriching plutonium, they were just enriching themselves. there's just one other thing. >> it laundered more than $800 million for mexican drug cartels. >> hundreds of thousands of u.s. dollars daily deposited to hsbc mexico using boxes specially made to fit through tellers windows to speed transactions. >> stephen: okay, but how was hsbc supposed to know the big specially made boxes the cartels were dropping off were full of drug money? they could have just as easily been filled with human heads. [ laughter ] turns out it was drug money and once they were caught, hsbc was slammed with a $1.9 billion fine. $1.9 billion dollars. do you have any
on the need to reduce the deficit in a balanced way that will help the economy grow, amongst democrats on the hill, and, a few republicans, the barrier to progress here is not the president. we need to see more republicans and congress -- in congress willing to compromise, even on revenues. >> chris: they say they need to see the president willing to compromise on spending cuts and entitlement reform. >> let's look at what we offered speaker boehner. it is public. $400 billion in health care savings we offered, and $200 billion of additional cuts in domestic spending and a trillion dollars in savings and look at where we started the negotiated process and the speaker, we went more than halfway. >> chris: is the president still willing to adjust the cost of living increase for entitlements, is he still willing to raise the eligibility age for medicare? are those still on the table? >> i will not talk about specifics that may be in the package. it is will report in the discussions with speaker boehner we were willing to entertain the cost of living adjustment. but, the overall package, w
understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. ♪ obama's on fire ♪ obama's on fire ♪ he's walking on fire >> alicia keys' amazing performance. the president and first lady are back at the white house. they've just gotten home after a big night and an historic day. we talked at the top about how president obama made history by acknowledging the struggle for equal rights for gay and lesbian americans and made it part of america's civil rights tradition. here's more of what the history books will record. >> our journey is not complete until our gay brothers and sisters are treated like anyone else under the law. for if we are truly created equal, surely the love we commit to one another must be equal as well. >> today's inaugural poem came from richard blanco, a cuban american who says negotiating his identity a
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is the economy is getting better. the equity markets have improved. standard & poor's 500 was up. the s&p 500 was up 13%, 14%, up 4% year to date. >> right. >> the economy is starting to show good signs. as long as we don't have it derailed in washington. >> i was just going to ask. >> i think things could get better. >> could washington still screw this up? >> absolutely. i don't think it takes much to have another debt ceiling debate and debacle would not be helpful here. i think there's so much minon the sidelines between the retail investor and the corporate america today, has so much money to invest. get rid of some of that uncertainty and this economy will go. i'm quite bullish about that. >> can you provide guidance for this year without knowing exactly what washington is going to come up with? >> we gave a range. we don't give guidance. we give a range on a conservative side and optimistic side. we're right inside that range. had a great start to the year. we're ahead of consensus. we her record asset gathering and record guidance sales and great control. had a great start. >> had a g
. remember the virginia economy, a lot of places very dependent on defense and other industries, neither side will look good if they cannot make an agreement. it is a prediction but one that i don't necessarily think will be true. >> david cuts would have a serious drag on the economy estimates from a half a percent to a full point of gdp. someone is going to get the blame for that if it happens. who do you think blinks first? >> that is a good point. you may recall the pentagon was very concerned about this saying they would have to cut about $100 billion right off the bat. some of the officials went to the white house and said let's make a deal on this. there will be a lot of pressure to do that. republicans agreed to raise the debt ceiling. that took away a little bit of their leverage going into negotiations at the end of february. here comes paul ryan. where has he been? he is making this line in the sand now. i think the white house is concerned because this could hurt the economy going forward if we go through these deep cuts and right now the white house is saying we need to keep the
believes that's going to be the major thing to turn around the japanese economy. cheryl: i mean it's almost a currency war, if you will. i mean they are getting into a very crowded space, and with the pressure that we have seen in particular on the dollar, over the last two years, i mean, i'm wondering what that means for us. >> absolutely. they are starting to step on the toes of the fed. you know, the fed has been really priming the pump here, printing money, printing money in efforts to keep the dollar as weak as possible in this risk off type scenario market. so now some of these other central banks are now starting to fight back a bit, and the bank of japan has probably been the most aggressive in doing so with some of the easing that they have already done. cheryl: do you think they will do more easing? is that what you think is going to be the headline here? >> we have pretty much baked into the cake that they will be raising the inflation target to 2% from 1%. they are probably going to extend their asset purchases. they're really talking about different measures to dramatically wea
to be a country driven by a vibrant, private economy, or are we starting to look like a mature european country? essentially, the question is can you have small government with an aging population on top of the other programs that was cited that the presidentments. >> no doubt we're on an unsustainable path, and democrats acknowledge it, but as far as whether they're going to cut programs we have and seen mayor cuts to the programs, republican says we are getting like greece. the only thing to change the equation is to make the tough decisions that president obama said himself in the initial inaugural address in 2009 is that he was going to make tough decisions. congress and the president have not made tough decisions. we may have to get downgraded again. the credit rating agency force action on capitol hill which could spur action. liz: interesting what bob said. when you talk to ratings agencies, you know, yes, they acted like the bar tenders at a party, handing out ids to anyone on wall street, but the u.s. is not agenting like an aaa country. they may not react and poo-poo it, but the react
of money it spends, the amounts of money meddles in the world economy, and to the degree of which all of the spending and meddling is not paid for out of current income -- neil: doesn't make a great captivating speech. there's no war on this. right to point out television animal opportunity miss the. what struck me more was to do that, he had to sense that republicans didn't have the power or organization to challenge it. by not mentioning it, and by the media then correcting conservatives who dare condemn that deletion from the president's speech, he feels that it's the wind that hid that and not at republicans for reigning in that spending. >> well, and i think so, and this is where speaker boehner has the perfect opportunity to change the narrative by forcing everything through regular legislative order. you control what goes to the floor. don't reauthorize programs. i would love to have the nation debate the question, should we not reauthorize americorp or cut the marine come. they'll ask what's americorp? what's it do? the speaker can start the process if he has the discipline to
to think they do, they should resist and do the best they can without harming the economy. lou: with a brighter communication and messaging strategy, that would be helpful to the gop. the opposition as much in need these days. thank you very much for being here. that is it for us tonight. we thank you for being with us. please be with us tomorrow night. goododod night from new york. neil: welcome, everybody. i am neil cavuto sitting before what was the parade route and what was a very busy stand with the most powerful people on the planet behind that class and behind that building that is going to be taken down. pie by piece over the next 24 hours. where i am sitting in that building that was in view, the president and e vice president and their families were sitting there. it will be dismantled from scratch. there is no warehouse where they can put this stuff up. this day we commemorate the president starting his second term. a president who started with a pretty in-your-face agenda, be that as it may, if you thought that the president was going to slow down on some government
.3%, down from a contraction of 0.4% in 2011. more difficult news for the spanish economy. >>> now in a long-anticipated speech on the future of britain in the european union, prime minister cameron has warned that democratic consent from a u.k. membership is "wafer thin." speaking in london, he said he's in favor of having e.u. referendum but not at the moment and urged e.u. leaders to address the challenges currently alienating the electorate. >> there's a gap between the e.u. and citizens which has grown dramatically in recent years and which represents a lack of democratic accountability and consent that is, yes, felt particularly acutely here in britain. now if we don't address these challenges, the sdarj that europe will -- danger is that europe will fail and the british people will drift toward the exit. >> i spoke to unilever's paul pohlman to get his thoughts on the strained relationship with the european union and whether a potential u.k. exit is bad for business. >> if you create a certain level of uncertainty between now and 2017 or whatever the date is of a proposed referendum i
. we are going to take the greatest economy in the greatest country, with the greatest responsibility in the world and we are going to put them on a 0-day leash. . how does a great country respond on a 90-day leash? we know what happened the world saw this happened. we got downgraded in the credit rating. that drove up the cost of borrowing in the united states. that drove up the borrowing cost of corporations. that drove up the costs of counties and cities that we represent. and we're told again that should we falter on the credit debt of the united states, that we can expect a downgrade and we can expect a further downgrade in cities and counties all over the country. and somehow we're supposed to believe this is a good plan. what this plan does -- can i have three additional minutes? mr. mcgovern: i yield the gentleman two additional minutes. the speaker pro tempore: the gentleman is recognized for two minutes. mr. miller: what this plan does is hold the jobs of american families and working people all across this had country, it holds them hostage. it holds them hostage to the pa
've heard from our republican colleagues economic uncertainty is bad for the economy. guess what? it is. and yet that's exactly what you are doing. another big dose of economic uncertainty. >> reporter: republicans shifted gears on the debt ceiling after a strategy session last week. worried that they have lost the public debate, republicans were clearly trying out a new message tod. >> balancing the budget over the next ten years means we save the future for our kids and our grandkids. it also means that we strengthen programs like social security and medicare and medicaid that can't continue to exist in current form without some kind of controls. >> reporter: there is just one problem. democrats argue the "no budget no pay provision" violates the constitution's 27th amendment which says any changes congress makes in its pay can't take effect until after the next election. >> we should not say to a member, "if you think the budget before you is not good for the country, vote against it and you won't get paid. if you think it's not good for the country, you better vote for it because yo
economy, which is completely manageable. this has shot up dramatically and it's going to continue to shoot up under current policies. the evidence is very clear in academic literature. it's very clear in international observation. there comes a point where your debt in terms of your economy reaches leve a level in which ct markets become noticeably disturbed and you become very worried. and if it's -- rising interest rates which then spread throughout the economy. mortgage rates and consumer rights and so forth. this is a certainty, and it is the path we are on that will have extreme consequences that we are not used to think about in this country spend i asked the question how much time do we really have. you know, with the u.s. per person debt now 35% higher at. wendy think we face our greek moment -- when do you think we take our greek moment to get our fiscal house in order? >> right now we are having good news-bad news situation. the good news is that despite all that we have done wrong, we're still one of the safest places in the world to invest. there's a lot of places around the wo
by bloomberg, 36% said america's fiscal woes are the biggest threat to the world economy, more than the 29% who named the european debt crisis. anthony mason is attending a meeting of world bankers in davos, switzerland. >> reporter: how strong do you think the u.s. economy actually is right now? >> i think the u.s. economy wants to be strong. >> reporter: but mary callahan erdoes says the bickering in washington is holding it back. erdos is one of the most powerful women on wall street. as c.e.o. of j.p. morgan asset management, she presides over $1.2 trillion in investments. >> the u.s. has to realize it's got so much going for it. let's just get ourselves to come together as a team, one team running that country, helping to get itself back on stable footing which then cascades to the rest of the world. >> reporter: how much does it hurt the economy if we don't confront this? >> it hurts us tremendously. it hurts the confidence of the u.s., it hurts the confidence of the c.e.o.s to know how do i invest? what are the rules going to be? and we've got to get back to believing that business is go
want the sequester actually to go forward which would put the breaks on the economy at least to an extent and drive more people back into bonds. >> reporter: others say any return to bonds may be short- lived, as the u.s. economy is showing new signs of strength. >> i think we expect more improvements, moderate improvements. but, you know overall that's usually a cause or thought that rates could go higher. and, in that regard it's probably not a market that will have the same sort of returns that we've seen over the past two years. >> reporter: so, it seems most agree the bond market is unlikely to be a cash cow for investors going forward. at the same time, however worries about a bond market bubble seem unfounded. suzanne pratt, "nightly business report." >> susie: immigration reform takes center stage this week. a group of senate democrats and republicans agreed today on what they called a framework for comprehensive immigration reform. tomorrow, president obama heads to las vegas to give a policy speech on immigration. with washington focused on immigration, citizenship
>>> on our broadcast tonight, signs of life in the american economy. near record highs on wall street, a housing turn-around under way. the problem is, a lot of americans aren't feeling it yet. >>> there is a new outbreak to worry about, spreading like wildfire across our country. and unlike the flu, for this one there is no vaccine. >>> the dark cloud hanging over a big american city. doctors say the air is so bad, it's the equivalent of forcing every resident to become a heavy smoker. >>> and seeing red. a push by republicans to change the way we elect a president. if these had been the rules across the map in november, we would have president romney. >>> also, a big night for the biggest blockbuster of all-time. "nightly news" begins now. >>> from nbc news world headquarters in new york, this is "nbc nightly news" with brian williams. >>> good evening. the evidence is now unmistaka e unmistakable. aspects of the u.s. economy after a long and difficult period of darkness appear to be getting more robust. and while there are lots of numbers out to prove the point of an improv
economy and is going to create jobs and increase the standard of living for hard- working, middle-class americans. you know, we talk so much about mortgaging the future, mortgaging our children's future and i care deeply about that. but frankly, we are mortgaging now the future is now. and we all -- all of us here, we want to fight. we want to fight for that nurse, that carpenter, that teacher, that grand parent, that parent, that student, we want to fight for everyone across this country. and the 113th congress has been sent here i think to be do big things, the hard things, and this is the first step in that process. no budget, no pay. >> questions? >> speaker boehner, yesterday in the president's inaugural address he suggested that immigration and climate change will be top priorities for him. what do you think of his call for action on climate change, and is immigration a high priority? >> there are a lot of priorities for the congress. a lot of priorities for the president. and right now, the biggest issue is the debt that's crushing the future of our kids and grandkids. hard
to attribute all this do. we'll talk to gouldsby about jumging the economy. i don't know if he's good about -- >> he's been pretty spot on. >> but we're going to hear up some of the party line from him. i saw some of the stuff he says. we're going to find out why we're doing a little better and is whether it's going to continue. let's get the national forecast now. oh, my man is back, the weather channel's reynolds wolf. i told you that the last time. cold weather. >> that's right. >> climate change, snow climate change, no snow, climate change. any variability. and we know about weather over the years, over the millions and billions of years. we know that it never -- the median line is because of all this variability. so it goes like this and then we get to the middle. but now, anything that is not right on that middle average is now seen as, oh, something is happening. >> reynolds is going, what? >> no. he is with me. he knows exactly what i'm saying. every single thing is because of co2 emissions now, reynolds. >> i am just absorbing this. i am just absorbing this. no, we have to talk, m
hillary clinton testifying on the benghazi attack. melissa: is the economy and low beer? we have an exclusive interview with the american trucking corporation bill graves. lori: the big apple shrinking? the new trend of micro- apartments in manhattan. 250 square feet. melissa: time for stocks now as we do every 15 minutes. let's head to the floor of the new york stock exchange where nicole petallides is standing by. nicole: i saw pictures of those apartments, i would love to buy one. they actually look very cute. let's take a look at some of the earnings related names. let's start at mcdonald's. it is up about a half% here. they expect the management -- that is not great news there. you can see the up arrow. when you talk about airlines they are up about three and a 3%. good news there despite the fact that superstar did actually cripple operations for some time. despite that, they did come in with an income of 37 billion compared with 18 million year-over-year. that is why you are seeing it up over 3%. united technologies which is to the upside. hitting 52 week highs today. you
a greater growth in the u.s. economy i think is still a question mark. >> down europe, up 10% china. okay. china, can be a source of top line growth. latin america could be a source of top line growth. >> and when asked about china, the words for sure, the idea that china is staging a rebound. >> and this is despite the fact that they have terrible fraud there. kind of overlooked it. when you're in that virtuous circle, it doesn't seem to matter what you say that's negative. people want to grasp the positive. it's a different kind of market from what we've had for multiple years. >> and to melissa's point about correlation, it's not that risk on, risk off, which we have dealt with for so long now. every hedge fund would come in, and say, europe's bad today, risk off. >> there are no more excuses for the fund managers who are underperforming the s&p 500. this year could be a good year, a different kind of year from the hedge funds that have done so poorly. >> they're going to have to do actual work. >> right. they will have to show performance now. >> they'll have to go through these quart
. a lot of them have to do with the economy. fix the economy. create jobs. then there's stop spending. and then of course probably the most important that he will talk about tomorrow, compromise, work together. >> chuck todd, thank you very much. >>> let me bring in the rest of our roundtable here. joe scarborough is here from msnbc's "morning joe." adviser to obama 2012, david axelrod. chief foreign correspondent richard engel is here, safe and sound in studio. richard, it's great to see you in person this morning. "new york times" best-selling author of "team of rivals" doris kearns goodwin. in between awards shows she's joined us. and nbc news special correspondent tom brokaw. welcome to all of you. tom, that's where we tee it up. the president, as he begins a second term, very difficult climate in washington and very real expectations. >> yes. and i was looking at those top three priorities for the american people. and they all fit into his single most difficult task, it seems to me, both conceptually and specifically. in the next couple of years, he only has a couple of years, th
water. billions in the economy. at chevron, if we can't do it right, we won't do it at all. we've got to think long term. we've got to think long term. ♪ a talking car. but i'll tell you what impresses me. a talking train. this ge locomotive can tell you exactly where it is, what it's carrying, while using less fuel. delivering whatever the world needs, when it needs it. ♪ after all, what's the point of talking if you don't have something important to say? ♪ >>> we're back. political director and chief white house correspondent chuck todd will take us inside the numbers of the latest poll as you tee up the second term, chuck. >> four years ago, enormous expectations for president obama. there were a lot of people, hope and change was big. this time, call it pragmatic hope as far as the public is concerned. as you see here, just less than 30% believe they're going to evaluate president obama with a clean fresh slate. 64% will evaluate him based on past feelings. and here, a continuation of a trend we saw throughout the first term. very similar to what ronald reagan dealt with dur
with their best strategy and the outcome for both the market and the economy. don't go anywhere. more "money" coming up. ♪ twins. i didn't see them coming. i have obligations. cute obligations, but obligations. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares re, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. lori: all right. back to business in washington now republicans hold a big vote to whether or not to extend the debt limit until may. if congress doesn't pass a budget by april 15th they no longer get paid! i have no problem with that. our panel is here with their take on the strategy. we have our favorite economist, peter morici. the always amazing scott martin, chief market strategist with united advisors and former democratic congressman
want to be a country driven by a vibrant, private economy, or are we starting to look like a mature european country? essentially, the question is can you have small government with an aging population on top of the other programs that was cited that the presidentments. >> no doubt we're on an unsustainable path and democrats acknowledge it but as far as whether they're going to cut programs we have and seen mayor cuts to the programs, republican says we are getting like greece. the only thing to change the equation is to make the tough decisions that president obama said himself in the initial inaugural address in 2009 is that he was going to make tough decisions. congress and the president have not made tough decisions. we may have to get downgraded again. the credit rating agency force action on capitol hill which could spur action. liz: interesting what bob said. when you talk to ratings agencies, you know yes they acted like the bar tenders at a party, handing out ids to anyone on wall street but the u.s
of it, how much the circumstances the economy was unable to brand obama. >> the clearest way to look at this is to look at 2010. 2010 was a set -- was a resounding rejection of what obama had done in the first two years. it was a resounding rejection of the intrusiveness expansion of the pyramid. it was a referendum on this kind of hyper liberalism and there was a referendum about the size and reach of government. and it was a pure ideological election. because there were no personalities involved. you weren't voting for president. you want boating up and down on a figure. you were voting on issues and the dominant issue was obama and as a scare, the stimulus committee increase in spending, the expansion of the government. or to put it in a more abstract and grand was the difference between federal and state which was tilting more toward state. when the question is put that way, the country shows itself to be center-right country. had republicans been able to duplicate those conditions, that framework in 2012, they would have won. but it is not the same election. 2010 is almost purel
mission is to leave office like a ronald reagan, being the president who turned around an economy, restored the confidence of a nation in its place in the world. no. he turned inward. and he said my mission here is to pick up the legacy of martin luther king and expand it as i think you've noted. that's not something he needs to work with republicans in congress for. it is something he doesn't need money for, by the way. it is, you're right, a moral agenda. but it is a very left of center argument that he made today about government. and republicans are going to go after him on that. this was a warrior president today. he fought the fight. >> there was a more aggressive tone, you might say. let's play another moment from the speech. >> together we determine that a modern economy requires railroads and highways to speed travel and commerce. schools and colleges to train our workers. together we discovered that a free market only thrives when our rules to ensure competition and fair play. together we resolve that a great nation must care for the vulnerable and protect its people fro
have a spirit of innovation here in washington that haswe are not done. [applause] a new world economy is emerging from the depths of this recession, and while its contours and relationships are not fully understood to us, we do know two things, one. with our uniquely powerful fusion of values and talents, washington state has the potential to lead the next wave of world-changing innovations. two. the world will not wait for us. global competition for the jobs of tomorrow. leading this next wave of growth entitlement. we must move, swiftly and boldly, to put this recession behind us, and bring forward a unique economic strategy that much." today, i'd like to share my vision of the path ahead. i know that to achieve this vision we must all work together. democrat and republican, house and senate, east and west, to answer the challenges of our age. i have represented both sides of our state, first as a state representative from yakima valley, then in congress representing both eastern and western washington. i want to thank the people of washington for electing me your governor. [applaus
when those numbers come out and will a good number what will it say about the economy, where it is? >> it depends on what the good number is right in the expectation is for about 175 thousand jobs, clearly a positive number moving in the right direction, but understand, you know, we need to create better than 300,000 jobs every month in order to really get out of this hole that we're in. that being said, i think you're going to get a preliminary look at the jobs number on wednesday, adp, they will come out wednesday with their sometiesti. any positive number is a good number. anything in or around 165 will be viewed as certainly expected. don't expect, you know they massive reaction as a result. >>> this economy like an indecisive lover, isn't it? earnings, coming up. boeing, ford, caterpillar, all big players out there, good indicator of where the economy is heading. what do you expect to see there? >> listen, we have seen earnings this quarter come in, 72% of the earnings so far have wasn't the estimates, but investors should understand the estimates have been slashed for the fou
's health care law and its impact already on the economy. we've got new polls from small businesses and how they say the law will affect their business and hiring. >> kelly: and still to come, secretary of state hillary clinton face ago wave of tough questions over the benghazi terror attack. how much of her testimony was fact and how much of it was off base? we investigate. . >> the american people deserve to know answers and they certainly don't deserve false answers and the answers that were given the american people on september 15th by the ambassador to the united nations were false. breathe, and how that feels. copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva is the only once-daily inhaled copd maintenance treatment that does both. spiriva handihaler tiotropium bromide inhalation powder does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with sp
in 2014. the moves do follow heavy pressure from shinzo abe despite reflation and a flagging economy. but the yen actually settled higher with some economists. look at that. that is suggesting they ended up almost 1.2% above the dollar. there's questions whether the 2% dollar stated can be achieved. now there's plenty more on the boj's inflation packed with the government live. hi. >> hi, kelly. the bank of japan and the government issued a joint statement that set a 2% inflation target today replacing its current 1% price. from japan's monetary policy has shifted into unexplored territory. the boj agreed to try and hit the 2% target as quickly as possible rather than over the medium to long-term. but the target will probably be difficult to meet. forecasts released by the bank showed that the consumer price index will rise to just 0.9% in the fiscal year starting in 2014. boj officials said that the 2% target will be possible if the country's growth potential is improved by further government reform. the joint statement is binding for both the government and the boj calling on both
the american, the japanese and american economy. there is going to be hell to pay and it's going to happen soon. >> you're holding your news and buying. >> neil henessey, can we get back to all-time highs for the dow and the s&p. >> oh, michelle, i think easily. if you look at the dow jones right now, the price-to-sales ratio is 1.28. the most it will go up to is 1.5 so that leaves 17% on the upside or if hundred points. more importantly you look at the s&p 500 companies, they are sitting on 1.5 trillion in cash, 1.5 trillion -- >> hold on. you think 2,300 points in the dow? what are you talking about? >> very much so. >> i mean. you're talking about the high in 2007, michelle, was when the price-to-sales ratio of the dow jones was at 1.8. we're 40% away from that number, but, i mean, the companies are in great shape. there's so much cash sitting on the sidelines, and at some point in time the investors are going to get out of fix the income and move over towards equity. >> can i ask you a question and i'm very much concerned about this. what happens when the bond bubble bursts and those invest
your sense of what's going on in terms of the global economy. how do you see things? >> sure. why don't we start in europe. europe remains a challenging place. i think that the actions that mr. draghi took have technically been very strong. i think they have put a safety net under the market, but i think the challenge, is and it's one of the big topics here, is how do we get growth back into these economies. fundamentally that's what we need to do, and i don't think there's a clear path to that but it will take some time. >> been a tough couple of years. >> yes, it has. >> let's talk about citi, you're repositioning the firm. how are you planning on doing that and what's the vision going forward? >> our strategy, maria, is really focused around a few of the big secular things going on in the world. globalization, urbanization and digitization. if you think of globalization, thinking of what's going on in the economy, most of the growth is coming from the developing countries. you look at 2008 to 2012, 45% of world growth came from china. a trend we're going to continue to see the next
, i'll tell you who is paying for it. we're paying for it, the taxpayers. what they did to the economy put it into the tank and it was big stimulus package that had to pull us out of the tank. we're still doing that right now. i wish the doj would go after these folks and give some answer. i think that frontline documentary is outstanding. mike papantonio, good to have you with us tonight. thank you so much. that is "the ed show." i'm ed schultz. the rachel maddow show starts right now. >> thank you for joining us. happy friday. the detroit lions used to play in this building, the pontiac silverdome in once prosperous pontiac, michigan. after the lions left the silverdome and the pontiac factory moved and the town of pontiac went broke, they're tried to sell the stadium to the highest bidder. >> the field has seen monster truck rallies, soccer games. if it can happen on a field, kit happen here. >> out here at the silverdome, we have anything ranging from your dirt shows, snocross shows, home and garden show, trade shows, converts all the way down to anything you would like to do on to
. as much as it is frustrating, so many of us thought, where the economy is right now, with what we are passing on to the next generation, we all see that. talking to one another, you just could not imagine the public would send this guy back to office. for me, that was the hardest part. how do people do that if they really were paying attention and -- to what was going on? the more i talked to people, they stuck with the current guy , it became clear that they don't really know what is going on. whether you want to call it low information voters or what have you, they are not digging in. they have not been personally affected the way they are probably about to be with obamacare and a lot of these things. it is too bad you have to get hit before you realize what is going on. i think there are 10 reasons that we lost. there are probably a lot more. we have to be very careful that we do not try to find, what is that one thing? voter turnout that didn't work. if we just had that computer system working better. maybe that would have made all the difference in ohio. maybe it was the fact
of characteristics that will help build the american economy and strengthen american families. third, we create an effective employment verification system that will prevent identity theft and end the future hires of unauthorized workers and lastly establish an improved process for admitting future workers to serve our workforce needs while simultaneously protecting all workers. other bipartisan groups of senators have stood in the same spot before trumpeting similar proposals but we believe this will be the year congress finally gets it done. the politics on this issue have been turned upside down. for the first time ever, there's more political risk in opposing immigration reform than in supporting it. we believe we have a window of opportunity to act. but we will only succeed if the effort is bipartisan. by their presence today, my republican colleagues are making a significant statement about the need to fix our broken immigration system. we democrats are equally serious. we do not want immigration as a wedge issue. much rather we want a bipartisan bill that solves the problem and becomes l
. and the economy is picking up. europe is looking better. you look at the european automobile manufacturers, bmws are up 35% last year. so i think everything is fine and i think that, you know, the old cliche is don't fight it and i think as the public realizes, and people realize the market is not going to come back. >> it's been great having you again. we appreciate your patience and we look forward to having you back soon. guys, leave us with a thought from each of you if you would. set us up for next week. we are at the point in the market we haven't been for five years. s&p 500 hanging out. industrial average point away from its all-time high. >> there is a lot to look forward to and you know a lot of it will be about what transpired on our network for the last 45 minutes. herbalife will be on everybody's lips even though that is not the economy. economy is doing better than we expected. we talked about german business confidence and so forth. but there certainly will be a new focus on herbalife, scott. and that's going to be my focus into next week. >> there's one thing that does trouble me
on the economy and that, but not at the expense of social security, medicare, and medicaid >> we, the people, still believe that every citizen deserves a basic measure of security and dignity. we must make the hard choices to reduce the cost of health care and the size of our deficit. but we reject the belief that america must choose between caring for the generation that built this country and investing in the generation that will build its future. lori: the president giving his second inaugural address this morning. rich edson now joining us from washington d.c., and that was certainly a politically partisan address we heard from the president. >> reporter: well, it was a defense of the political theory, awaited the u.s. should be governed and should govern itself. i would almost characterize it as something along the lines of a response to what we heard from president reagan in 1981 when he said government is not the solution to our problems, it is the problem. president obama making the case that the government is not necessarily our problem. together we could do great things. together w
to a better economy. keys to your house, a new house hopefully. connell: let's talk about the markets. nicole petallides starts us off as she does each day with stocks now. nicole: taking a look at a market that really has shown strength over the last seven of the past nine weeks. the dow trading as high as 13,682 prior to pulling back here into negative territory. we are seeing multi- year highs. while they see the trend to the upside, they rally to resist it levels. i wanted to take a look. it was lower in the free market. the cfo, chief financial officer, gave an outlook for 2013. it is now trading higher on this conference call. their wireless margins took a jump. a good outlook. back to you. dagen: thank you. congress is heading back to work just one day after president asked both parties to come together and stand behind his visions. connell: house republicans may be less than willing to join him. rich: so is the bipartisan goodwill. the effects of the inauguration starting to disappear a bit from washington. some tourists remaining in town. we expect them to drop the same lines we have
the economy has got to be at the very, very top. second of all in my view, when scientists tell us that if we don't get a handle on global warming, the planet may warm by eight degrees by the end of the century with devastating consequences, of course we have to move away from fossil fuel in a dramatic way. transform our energy system. by the way, we can create jobs doing that. right now our republican friends, when you talk about want to do entilement reform, it's not entitlement reform. let's be clear. it's massive cuts in social security, medicare, veterans programs, medicaid. >> you know their argument is that you can't just raise taxes. you have to, at some point, you have to get your fiscal house in order and that means cuts to some of these entitlement programs. >> no it does not. when you talk about getting your fiscal house in order, that's correct, but our republican friends forget to mention that at 15.8%, revenue compared to gdp, that is the lowest percentage in 60 years. when clinton gave us a balanced budget, revenue was about 20%. we have one out of four corporations, profitabl
repatriating money that's already taxed to the united states will boost our economy and allow us to create jobs here and maybe could be tie intoed creating an infrastructure bank, but we need some fundamental changes. belief it or not we care more than anything else about the health of the economy, so deficit reduction is really big for us. we support the simpson-bowles, we're the only association that does. it hurts etch, it's shared sacrifice, it's painful even for us but we need stability in our finances as a country, and every responsible business should stand up and say that, and we're urging both sides -- republicans and democrats -- to recognize the pain has to be spread around. there's some things, patent controls that effects innovation. basically, people don't produce anything but lawyers. it's not really a good way to get a society. and from the smallest start-up to the biggest economy everyone's saying we need more certainty, you shouldn't be putting people out of work in actively-of run companies if they're don't even think they're breaking someone's patent. there has to be some ce
the economy. the economy some argue is not one of his priorities. >> if you look back in 2008 the median household income 52,546 dollars. three years into president obama's presidency the average for 2011 it dropped more than 2,000 dollars to 50,054. when you look at the numbers do you think the president should be more focused on the economy. john meachum is talking about it this morning. >> the most important g median household income over the last 12 years. without rectifiying that this will be an unmemorable presidency and potentially a significantly -- >> how is he going to do that in three years? how is he going to remedy that turn that around so the regular folks start to make more money? it seems to me almost impossible with these policies. >> i think we are all to blame here. a lot of people don't want to hear the hard truth. people don't want to pay more taxes they don't want to see these cuts. they don't want to embrace the simpson bowl kind of proposals. these are hard choices. you and i didn't run for president. he sought the job. he is a good man. i think you would agree wi
of the federal reserve, talks with us about the debt crisis, the economy and the fed. alan blinder joins us. >> tom: that and more tonight on "n.b.r."! >> susie: just a single cent higher. earnings from software "giant" microsoft were only a penny more than what anysts were expecting. microsoft shares slipped as much as 2% on the news in after hours trading. here are the numbers: microsoft earned $0.76 a share, down 3.7% from a year ago. revenues rose more than 2.5% to $21.5 billion, but also below expectations. the results mark the first quarter to include sales of microsoft's new windows 8 operating system, and its tablet computer, the "surface". sales of its windows division jumped 24%, but no financial details on the surface tablet. wel haveore analysis on microsoft, in a just a moment. >> tom: the other big tech story today: apple and its big fall following yesterday's lackluster results. the stock lost 12% of its value or $63 a share, closing at $450 and change. suzanne pratt reports. >> reporter: no doubt this was a sour day for investors. not only did the stock log its largest dolla
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